Pfizer, Biohaven Commercialize Generic Drug For Migraine Attacks
Biohaven will remain responsible for further development of Rimegepant, while Pfizer will gain rights outside of the US to zavegepant, a CGRP receptor being studied to treat migraines.
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By - Pfizer and Biohaven Pharmaceuticals recently collaborated to commercialize rimegepant, a generic drug used to treat migraine attacks, in markets outside of the US.
Commercialized as Nurtec ODT in the US, rimegepant is used to treat migraine attacks with or without aura and episodic migraine in adults.
Under the terms of the agreement, Biohaven will remain primarily responsible for further clinical development of Rimegepant and commercialize Nurtec ODT in the US.
On the other hand, Pfizer will gain rights outside of the US to zavegepant, a third-generation, small molecule, CGRP receptor antagonist currently in Phase 3 clinical trials for migraine indications.
“We are excited to join forces with Biohaven in the fight against migraine and help those patients impacted by this debilitating neurological disease,” Nick Lagunowich, global president of Pfizer Internal Medicine, said in the announcement.
Over one billion people suffer from migraines globally. The World Health Organization (WHO) classifies migraine as one of the ten most disabling medical illnesses.
A September 2020 GoodRx report found that although prices for migraine medications rose by 40 percent through 2017, they sharply declined at the beginning of 2018 and haven’t increased much since.
Rimegepant targets a root cause of migraine by reversibly blocking CGRP receptors, inhibiting the biologic cascade that results in a migraine attack. FDA approved the drug in February 2020 for the acute treatment of migraine and in May 2021 to prevent episodic migraines.
The European Medicines Agency (EMA) and several other regulatory authorities outside of the US are currently reviewing an application for the approval of rimegepant.
“We believe this collaboration, which brings together the winning combination of Biohaven’s Neuroscience R&D with Pfizer’s expertise and large global footprint will help accelerate access to rimegepant for patients around the world,” said Vlad Coric MD, chief executive officer of Biohaven.
“With this alliance, Biohaven Pharmaceutical and Pfizer believe there is an opportunity to change the paradigm in migraine treatment and potentially establish a new standard of care,” Coric continued.
Under the financial terms of the transaction, Pfizer will make an upfront payment of $500, consisting of $150 million cash and $350 million in the purchase of Biohaven equity at a 25 percent market premium.
Additionally, Biohaven is eligible to receive up to $740 million in milestones.
